BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top U.S. wealth managers.* Our business encompasses BNY Mellon’s affiliated investment management firms, wealth management services, and global distribution companies. We combine the scale of a full-service investment manager with the focused expertise of autonomous investment boutiques, each with their own style, strategy and management team. Please visit the Investment Management site to learn more.

Preparing for Money Market Fund Reform

Liquidity Services

As you assess the impact of money market fund reform on your organization, explore the resources listed on this page. Please contact us if you have any questions.

Getting Ready for Money Market Reform

Through BNY Mellon’s Liquidity DIRECTSM portal, our clients can purchase and redeem a wide array of highly-rated money market mutual funds. Read about the new features we are adding to Liquidity DIRECTSM and the operational changes you need to be aware of including handling of Floating NAV (FNAV) funds, fees and gates.

Money Market Fund Strike Times and How They Will Work

Based on the timings anticipated and published by the fund providers, prices will be assigned 1.5 – 2 hours after strike price times. The following timeline example reflects the expected post money market reform sequence of events when an investor trades in a Floating NAV fund offering 8:00 AM, 12:00 PM, and 3:00 PM strike prices1.

1 Number of strike times and actual strike times are fund dependent. Timeline for illustrative purposes only.

BNY Mellon Markets’ focus is to provide expertise and solutions that help clients manage risk, address liquidity needs and drive performance. We are working closely with our clients as the industry moves toward implementing regulatory reforms. How can we help you?

BNY Mellon Capital Markets, LLC is a registered broker-dealer, is a member of FINRA and SIPC and is a wholly owned subsidiary of BNY Mellon.

Liquidity Services (except for safekeep margin balances) are not being offered and not available in Japan currently.

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Money market fund shares are not a deposit or obligation of BNY Mellon. Investments in money market funds are not insured, guaranteed, recommended or otherwise endorsed in any way by BNY Mellon, the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, fund shares are subject to investment risk and your investment may lose value. Money market fund yield performance represents past performance, which is no guarantee of future results and investment returns will fluctuate. Before investing, investors should carefully consider the investment objectives, risks, charges, tax impact and expenses of the fund that are explained in each fund’s prospectus. The following factors, among many, could reduce any one fund’s income level and/or share price: interest rates could rise sharply, causing the value of the fund’s investments and its share price to drop; interest rates could drop, thereby reducing the fund’s yield; any of the fund’s holdings could have its credit rating downgraded or could default; and there are risks generally associated with concentrating investments in any one industry. Investments in instruments of non-U.S. issuers are subject to the risks of certain domestic events—such as political upheaval, financial troubles, nationalization (certain assets, entities or sectors) or natural disasters—that may weaken a country’s securities markets. Country risk may be especially high in emerging markets. Such investments may be affected by market risk on a global scale based on responses of certain foreign markets to markets of other countries or global market sectors. Foreign-currency denominated securities are subject to fluctuations in exchange rates that could have an adverse effect on the value or price of, or income derived from, the investment. Investments in foreign instruments are subject to the risk that the value of a foreign investment, measured in U.S. dollars, will decrease because of unfavorable changes in currency exchange rates.

Securities instruments and services other than money market mutual funds and off-shore liquidity funds are offered by BNY Mellon Capital Markets, LLC. All references to dollars are in US dollars unless specified otherwise.

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